What happened: In 2018, China accounted for nearly half of all app downloads for mobile devices and nearly 40% of worldwide consumer spending on apps, according to the latest State of Mobile report by research firm App Annie. Global app downloads reached a record 194 billion last year with consumers spending a total of $101 billion on them.
Why it’s important: China is not only the world’s top market for smartphones but also for mobile apps. Despite its decelerating economy and weakening demand for mobile devices, China is still driving growth in the global app business and will likely remain the largest contributor to the growth of consumer spending. The government’s freeze on game licenses crippled the revenue of the gaming industry, but consumer spending on mobile games in China soared last year.